In a recent conversation with Sian Steele for an upcoming podcast episode we talk briefly about family businesses in China and the Far East.
Their appetite for learning is refreshing and inspiring.
This article from INSEAD highlights 5 challenges facing family businesses in China, these are not issues that are exclusive to Chinese family businesses, however I would argue that their approach to these issues is far more inquisitive and open than our attitudes in the UK.
How many of these challenges are ones that you face, and how will you approach these challenges?
Family-owned businesses that have survived the five great succession challenges have lived to be hundreds of years old, some more than a thousand years. They continue to thrive because they have ensured smooth successions from one generation to the next, as have the following examples of family-owned companies from around the world: